Thread regarding Intel Corp. layoffs

This is why everybody should look to change industries when job hunting

  • Layoffs.fyi reports that 703 startups have cut at least 92,558 jobs since January 1, 2022.
  • Layoffs are occurring in the tech sector and in the real estate industry, two of the sectors most impacted by the Federal Reserve’s decision to increase interest rates, with another interest rate hike of between 50 and 75 basis points expected in November.
  • And, further, tech sector layoffs rose to more than 44,000, according to TechCrunch.

https://wraltechwire.com/2022/10/25/layoff-watch-job-cuts-top-44000-in-tech-sector-90000-among-startups/

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Post ID: @OP+1jnBSktg

4 replies (most recent on top)

I did precisely this a few months ago. The tech firm I worked for was about to be acquired and the company doing the acquiring is notorious for laying off most of the company's staff that they buy. After 20 years of being in tech I was done. There is zero job stability in this industry and the No.1 "trick" execs seem to always pull out of their sleeves is to layoff tons of people and mainly due to some of their own ill-prepared previous decisions. That and its just so volatile. All it takes is someone else to invent the latest sprocket to make whatever someone else makes obsolete. And this is especially true for huge tech companies, whom are slow to react and when they finally react its often too late.

So far I feel I made the right decision. Where I am at now is in a 200+ year old industry and people at the new company stay for their entire careers. That and the pace is a lot easier to deal with.

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Post ID: @1qzi+1jnBSktg

During a recession, bankers should not try to become bakers. My 2 cents.

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Post ID: @1ktv+1jnBSktg

hope this causes a tech bro exodus

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Post ID: @gem+1jnBSktg

I don’t know about “everybody” but I was pretty burned out when Intel laid me off a couple years ago. Years of working long hours and dealing with thrash on a daily basis left me thinking it’s time to re-invent myself and find another career path. I did work another couple years doing the same type of work but the grass wasn’t necessarily greener, I am now looking for something new outside of tech.

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Post ID: @akx+1jnBSktg

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